https://www.taxtmi.com/caselaws?id=438325 The Tribunal upheld the Adjudicating Authority's decision to dismiss the Section 9 application under the Insolvency and Bankruptcy Code, 2016. The dispute between the Operational Creditor and Corporate Debtor over the quality of coal supplied was deemed a genuine pre-existing dispute, justifying the rejection of the application. The judgment highlighted the need for a plausible defense in such cases and advised the parties to seek alternative legal remedies. No costs were awarded, and the parties were cautioned against any prejudice in ongoing appeal proceedings before the Bombay High Court. en-us Fri, 26 May 2023 00:00:00 +0530 Sun, 28 May 2023 22:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438325 The Tribunal upheld the Adjudicating Authority's decision to dismiss the Section 9 application under the Insolvency and Bankruptcy Code, 2016. The dispute between the Operational Creditor and Corporate Debtor over the quality of coal supplied was deemed a genuine pre-existing dispute, justifying the rejection of the application. The judgment highlighted the need for a plausible defense in such cases and advised the parties to seek alternative legal remedies. No costs were awarded, and the parties were cautioned against any prejudice in ongoing appeal proceedings before the Bombay High Court. Case-Laws Insolvency and Bankruptcy Fri, 26 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438325